Buenos Aires real estate news

New constructions down Ricardo Balbín Avenue.

Studios, one or two bedroom apartments with a value of US$ 2,300 per square meter proliferate on this arterial road. Balbín Avenue is located in Belgrano, growing from Olazábal corner. Limits with Coughlan and it runs into Saavedra. This avenue is changing and evolving from housing PHs and houses to large new buildings. Ten years ago the skyline of this avenue started to change. New constructions were erected in the area surrounding Belgrano R’s station and the quality of the constructions improved integrally. Big units with high end finishing were well received in the market and the developers realized they had discovered a promising district. Currently they are developing buildings with smaller units, studios and one or two bedroom apartments.

The modernization of the avenue was a natural step after Belgrano and Gran Belgrano’s impressive growth. Those who invested in properties down Balbín in 2004 paid US$ 900/1,000 per square meter. Now the prices skyrocketed and the value of the square meter is US$ 2,000.As developers know the cost of the land has a significant impact in a project’s profitability, so they started to buy parcels in this district, where the cost of the land was inferior to other areas of Capital Federal. The width of the avenue also allows building a larger number of square meters and provides natural light.

In terms of transportation, the road is close to Mitre’s railroad and the subway (Subte), making this location even more desirable. The units built in Balbín are seeked by a young audience as their first home. The units range from 40 to 70 square meters. The price of the land is around US$ 700 per square meter, the value of units under construction ranges from US$ 1,600 to 1,800 per square meter and brand new units are sold in US$ 2,300.

A new project by Qualis Development and Korn Propiedades will renovate the property known as Villa Roccatagliata located in Balbín and Roosevelt. The development consists in integrating the Old Mansion with a housing complex. The original construction was built in the early 20th Century with classic Italian style. The renovation will restore the mansion’s former glory and 349 units will be integrated to the Villa. The projects features more than 2,500 square meters of amenities. The value of this units start from 690,000 argentine pesos.

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